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- Title
BLOCKHOLDER OWNERSHIP STRUCTURE OF SRI LANKAN LISTED COMPANIES.
- Authors
KALAINATHAN, KOPERUNTHEVY; KALIAPERUMAL, VIJAYARANI
- Abstract
The purpose of this study is to identify the blockholder(s) and blockholder ownership structure (BHO) of Sri Lankan listed companies. The study concentrated on 135 companies from 19 sectors except Bank Finance and Insurance during the period from 2007/08 to 2012/13. Firstly, we identified the number of shares issued by the sample companies and the number of shares held by the blockholders. Based on the shares information, the shareholder indices indicate the great disparity between block shareholdings and minority shareholdings. Further, the distribution of BHO proves that nearly 50 per cent of the sample companies' blockholders have more than 75 per cent of equity shares and more than 80 per cent of the blockholders are institutions. Finally, the study identifies that on average 72 per cent of the shares controlled by minuscule number of blockholders and nearly 90 per cent of the companies are under the control of five or less number of blockholders. Therefore, the study proves that the listed companies of Sri Lankan stock market are controlled by the hefty blockholders.
- Publication
CLEAR International Journal of Research in Commerce & Management, 2014, Vol 5, Issue 8, p24
- ISSN
2249-4561
- Publication type
Academic Journal